Ondo Finance Partners with Chainlink to Tokenize Real-World Assets
Ondo Finance and Chainlink have joined forces to improve tokenized securities infrastructure. This partnership aims to bring financial institutions on-chain by using Chainlink’s oracle services. Ondo will use these services to help tokenize real-world assets (RWA) smoothly.
Ondo has created a strong ecosystem for RWA tokenization. It includes over 100 major institutions across various blockchains and decentralized apps (dApps). Using Chainlink’s oracles will help Ondo expand its platform, making it easier for institutions to conduct on-chain operations.
The partnership builds on previous collaborations with banking and capital market groups such as SWIFT and Euroclear. Ondo confirmed Chainlink will be its “official oracle provider” for tokenized securities. This will support new DeFi uses like vaults, structured products, and lending protocols.
Chainlink offers reliable, institutional-grade data to secure Ondo’s tokenized stocks and ETFs on multiple blockchains. Sergey Nazarov, Chainlink co-founder, said, “By securing tokenized stocks with Chainlink, Ondo is redefining traditional financial instruments on-chain in a programmable and accessible way.”
Market Update: ONDO and Chainlink Prices Show Downward Trend
Chainlink (LINK) is trading near $17.00 amid a broad decline in the crypto market. LINK is below important moving averages, such as the 200-day EMA at $18.88 and the 50-day EMA at $19.72. The Relative Strength Index (RSI) is 41 and falling, signaling growing bearish momentum.
If the MACD indicator issues a sell signal, traders may lower their risk further. Key price support levels for LINK are $15.72 and $12.76, tested in October and July respectively.
Ondo Finance’s token (ONDO) is also falling, trading around $0.68. It remains below the 50-day EMA at $0.82 and the 200-day EMA at $0.89. The RSI stands at 36 and points toward oversold levels. If the MACD triggers a sell, ONDO might move lower to test support at $0.62.
However, ONDO could rebound if investors respond positively to its Chainlink partnership. Key targets in case of a recovery are the 50-day EMA at $0.82 and the 200-day EMA at $0.89.
Understanding Bitcoin, Altcoins, and Stablecoins
- Bitcoin: The largest cryptocurrency by market cap. It works as digital money without third-party control.
- Altcoins: Cryptocurrencies other than Bitcoin. Litecoin is considered the first altcoin forked from Bitcoin.
- Stablecoins: Cryptos tied to stable assets like the US Dollar. They help investors avoid volatility and provide easy crypto access.
- Bitcoin Dominance: The share of Bitcoin’s market cap compared to all cryptocurrencies. High dominance is seen in bull markets, while low dominance means more interest in altcoins.
